Rail Vision (RVSN) said Wednesday it signed a standby equity purchase agreement allowing it to sell up to $20 million of shares to a Yorkville Advisors fund anytime during a three-year period.
The purchase price of the shares will be at a 3% discount of the lowest daily volume weighted average price during three consecutive trading days after Rail Vision sends an advance notice, the technology company said.
Rail Vision said it is not obliged to utilize any of the $20 million in the deal and that there are no minimum commitments nor restrictions on operations.
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